Steam Reformer Merchant Hydrogen Generation Market Size - By Application, Regional Outlook, Forecast, 2024 – 2032

Steam Reformer Merchant Hydrogen Generation Market Size

The global steam reformer merchant hydrogen generation market size was valued USD 23 billion in 2023 and is anticipated to grow at a CAGR of 7.4% between 2024 and 2032. It refers to producing hydrogen from hydrocarbon feedstocks, such as natural gas, through steam reforming. In this process, steam is reacted with hydrocarbons at high temperatures in the presence of a catalyst. Merchant hydrogen generation is typically established in dedicated facilities that supply hydrogen to multiple users, contributing to a more competitive and flexible hydrogen market.
 

Rising demand for clean fuel from various sectors, including refining, ammonia production, and fuel cell applications will propel process adoption, allowing producers to supply hydrogen to multiple customers rather than relying on captive production. Growing innovations in steam reforming technologies to improve efficiency and cost-effectiveness of clean energy production will boost the process penetration.
 

Increasing investments in developing clean fuel infrastructure, including pipelines, storage facilities, and distribution networks will propel the product adoption to enable efficient and cost-effective delivery. Rising collaboration among industry stakeholders, including energy companies, technology providers, and research institutions to foster innovation and facilitate the sharing of resources will improve the industry statistics.
 

Steam Reformer Merchant Hydrogen Generation Market Trends

Rising shift towards the circular economy is uplifting the steam reforming adoption in various applications that promote sustainability, such as powering fuel cells and producing green chemicals. This alignment with ambitious goals, will drive its adoption in diverse sectors. Growing need for processes that are flexible and easily scalable according to the market demand, allowing producers to respond swiftly to changes in hydrogen consumption patterns will augment the business growth. This scalability is particularly advantageous in markets with fluctuating energy needs, enabling operators to optimize production without being tied to fixed, captive customers.
 

Steam Reformer Merchant Hydrogen Generation Market Analysis

Based on application, the steam reformer merchant hydrogen generation industry is segmented into petroleum refinery, chemical, metal and others. Chemical is projected to grow by more than USD 22 billion by 2032. Rising demand for processes that can be easily integrated with the existing chemical setup, enhance overall efficiency and minimize transportation costs and logistical challenges associated with hydrogen delivery will complement the process penetration.
 

Fluctuation in the chemical market dynamics influenced by various factors, including geopolitical tensions, trade policies, and fluctuating energy prices is driving the process adoption to mitigate risks associated with supply chain disruptions. Furthermore, companies can enhance their resilience against global market volatility by producing hydrogen closer to end-use locations or strategically situating facilities, ensure a reliable clean fuel supply, strengthening the market growth.
 

Asia Pacific steam reformer merchant hydrogen generation market is anticipated to grow over USD 20 billion by 2032. Rising environmental concerns and emission targets will stimulate the process demand from various industries to generate hydrogen with a lower carbon footprint, particularly when integrating with carbon capture technologies. Presence of substantial natural gas reserves, particularly in countries such as Australia and Malaysia makes steam reforming an economically viable option for clean energy production, boosting the process growth.
 

In the U.S. shifting focus of energy independence and reducing reliance on foreign energy sources supported by initiatives such as the Infrastructure Investment and Jobs Act emphasizing the need for hydrogen as a clean energy solution, will encourage the process deployment. Increasing companies' ambitious sustainability targets, aiming to reduce their carbon footprints will stimulate the process penetration in the chemical and energy sectors to generate low-carbon hydrogen, supporting their corporate responsibility initiatives while enhancing their market competitiveness.
 

Steam Reformer Merchant Hydrogen Generation Market Share

Eminent players are investing in R&D activities to improve on the steam reforming technologies, enhance catalyst performance, and develop more efficient processes. This includes optimizing heat integration and exploring advanced materials. Companies are forming joint ventures with other companies, research institutions, or technology providers to leverage complementary strengths and share resources for developing new technologies or expanding market reach.
 

Steam Reformer Merchant Hydrogen Generation Market Companies

Eminent players operating in the steam reformer merchant hydrogen generation industry are:

• Air Products and Chemicals
• Air Liquide
• Chevron
• GTI Energy
• Linde
• Mahler
• Petronas
• Thyssenkrupp
• Technip Energies
• Uniper
   

Steam Reformer Merchant Hydrogen Generation Industry News

• In June 2024, ExxonMobil and Air Liquide have joined forces to advance low-carbon hydrogen and ammonia production at ExxonMobil's Baytown facility in Texas. Air Liquide will utilize its existing pipeline network for transporting the low-carbon hydrogen and will build four Large Modular Air Separation units. These units are anticipated to supply up to 6,500 metric tons of nitrogen and around 9,000 metric tons volume of oxygen daily, primarily powered by low-carbon electricity to minimize the project's environmental impact.
   
• In February 2022, Linde is set to design, build, own, and operate a new hydrogen production facility in France, which will effectively double the site's hydrogen production capacity. This new plant will not only bolster BASF’s hexamethylenediamine (HMD) manufacturing operations but also address the rising hydrogen demand from Linde's merchant clientele. The facility is on track to commence operations in the first half of 2024.
   

The steam reformer merchant hydrogen generation market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “(USD Billion)” from 2021 to 2032, for the following segments:

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Market, By Application

• Petroleum refinery 
• Chemical
• Metal
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • Germany
  • Italy
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
• Middle East & Africa
  • Saudi Arabia
  • Iran
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina
  • Chile